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China's BAIC Buys Assets of Swedish Transmission Plant: China's Beijing Automotive Industry Holding Co. (BAIC) announced Wednesday that it had purchased all equipment and technologies from a Swedish transmission plant for 31 million euros (about 42.5 million U.S. dollars). Ma Tongli, deputy general manager of BAIC, said the purchases ...

China's Iron Ore Imports Drop Last Year as Production Costs Rise: China's imports of iron ore stood at 618.64 million tonnes in 2010, down 9.13 million tonnes compared to the previous year, figures released Thursday by the China Iron and Steel Association (CISA) showed. But spending on the imports hit 79.43 billion U.S. dollars, up 29.28 ...

China to Invest 1.5-plus Trillion Yuan in Aviation Sector over Next 5 Years: The Chinese government will invest more than 1.5 trillion yuan (227.3 billion U.S. dollars) in the aviation sector in the next five years to 2015, Li Jiaxiang, director of Civil Aviation Administration of China, said Thursday. The figure is half a trillion yuan more than that of ...

China's 2010 Gross Oceanic Product Reaches 3.8 Trillion Yuan: The State Oceanic Administration (SOA) told Xinhua Saturday that China's gross oceanic product was worth 3.8 trillion yuan (577.89 billion U.S. dollars). The figure accounted for 9.7 percent of the nation's total gross domestic product in 2010 and 16 percent of the GDP in coastal ...

China Machinery Industry Forecasts Production to Rise 15%: China's machinery industry is expected to see sales and production up by 15 percent this year, an official of the China Machinery Industry Federation (CMIF) said at a press conference Friday. The industry would see slower growth compared with last year, as costs of production ...

Volvo Announces New Plants, Aims to Sell 200,000 Cars in China by 2015: Volvo Car Corp. announced it will build two manufacturing bases in the west China city of Chengdu and northeastern Daqing over the next five years in an ambitious expansion that aims for car sales in China of 200,000 by 2015. "China is Volvo's second home ground and plays a vital ...

World's First 660 KV Transmission System Sends Power across China: The world's first 660-kilovolt direct current power transmission system began to supply energy from northwest China's Ningxia Hui Autonomous Region to the eastern Shandong Province Monday. The 10.4-billion-yuan (1.58 billion U.S. dollars) project is part of China's west-east ...

Chinese Leading Developer Reports Nearly 40 Pct Profit Surge: Poly Real Estate Group Co., Ltd, China's second largest property developer by market value, said Tuesday in its annual report that its 2010 net profit soared 39.8 percent from one year earlier to 4.92 billion yuan (748 million U.S. dollars). The surge was slower than the 57.19 ...

China's Jan-Feb Futures Trading Value up 38.44%: The value of China's futures transactions in the first two months of this year rose 38.44 percent year on year to 19.16 trillion yuan (about 2.92 trillion U.S. dollars), according to the China Futures Association. The trading volume, however, was down 30.05 percent from the same ...

China Logistics Value up 15 Percent for 2010: The value of China's logistics industry hit 125 trillion yuan (18.9 trillion U.S. dollars) in 2010, a growth rate of 15 percent year-on-year, said the China Federation of Logistics and Purchasing (CFLP) on Tuesday. The growth rate was 3.7 percentage points more than the previous ...

Macao's Gaming Revenues Set Monthly Record: The total revenues of Macao's gaming sector for February this year amounted to 19.86 billion patacas (2. 48 billion U.S. dollars), rising by 7 percent over the previous month, according to the figures released on Tuesday by the city's Gaming Inspection and Coordination Bureau. It ...

Chinese Liquor Maker Wuliangye's 2010 Net Profit up 33.91%: Wuliangye Yibin Co., Ltd., one of China's top liquor brands, announced Thursday that its net profit rose 33.91 percent in 2010 year on year to 4.35 billion yuan (about 661.37 million U.S. dollars). Operating revenue last year jumped 39.36 percent to 15.5 billion yuan, said the ...

Sales of China's Jumbo Jets to Reach 2000 in Two Decades: Designer: The Commercial Aircraft Corporation of China (COMAC) said it is expected to sell 2,000 jumbo jets, the homegrown C919, over the coming 20 years. More orders for the C919 were in the pipeline this year in addition to the existing orders of 100, Wu Guanghui, vice general manager of ...

Shenhua Group to Invest 78 Bln USD on Expansion in 2011-15: Shenhua Group, China's largest coal producer, said Thursday that it would invest 515.2 billion yuan (78.4 billion U.S. dollars) on business expansion in the next five years leading up to 2015. The company will add an additional 200 million tonnes in coal production capacity, ...

China's Feb. Rural Home Appliance Sales Surge on Subsidy: Sales of home appliances in China's rural areas surged 168 percent to 20.86 billion yuan (about 3.16 billion U.S. dollars) in February, driven by a subsidy program to boost consumption, the Ministry of Commerce (MOC) announced. The sales volume in the month rose 126 percent to 8...

China Willing to Develop Alternatives of Rare Earth Jointly with Japan: Minister: China is willing to cooperate with Japan in developing alternatives of rare earth, Commerce Minister Chen Deming said here Monday. "At the current pace of rare earth use, it will not take long before the world's reserves go depleted. We hope to work with Japan and other countries ...

China to Replace Japan as Top Consumer of High-end Products by 2015: Minister: China is expected to surpass Japan to become the world's largest consumer of high-end goods by 2015, Commerce Minister Chen Deming said Monday. This shift was attributed to China's large population, rising income and inadequate supplies of home-made high-end brands, Chen told ...

20 Mln Fishermen Benefit from China's Subsidy Mechanism: Official: China's plan to subsidize diesel oil used in fisheries benefited more than 20 million fishermen over the past five years, a Ministry of Agriculture (MOA) official said Monday. The subsidy plan has greatly eased financial pressures felt by fishermen after a surge in oil prices, ...

Xi'an Aircraft Int'l Corp. Net Profit up 9% Last Year: Net profit of Xi'an Aircraft International Corporation (XAIC), a China-based aircraft maker and components supplier, rose 9.47 percent year on year to hit 345.56 million yuan (about 52.36 million U.S. dollars) last year, the company announced Tuesday. Total business revenue ...

Chinese Mainland Liquor Maker Dukang Issues TDRs on TWSE: Chinese mainland distillery, Dukang Distillers Holdings Limited, began issuing 130 million units of Taiwan depository receipts (TDRs) on the Taiwan Stock Exchange (TWSE) at 18.65 New Taiwan Dollars per unit on Wednesday. The offering makes Dukang the first alcoholic beverage ...

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